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Oct 13, 2012
10/12
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. >> ronald reagan. >> now you're jack kennedy. >> ronald reagan. >> twitter was atwitter about that. that comment got a noticeable reaction from the group of undecided voters i watched during the debate last night. see it blown up there in the bottom of the screen. here is the problem, both kennedy and reagan working in a different time and place. to start, when both kennedy and reagan took office, individual tax rates not even in the ballpark of what we have now. kennedy's plan, enacted after his death, took the top marginal tax rate from 91% to 71% over a two-year period. lots of loopholes, but the growth argument, gdp rose by barely a percent during that time. isn't much when the economy was growing at a rate like china's, but the u.s. was at the time. they got a boost, but not much of one. ronald reagan's first big tax cut went into effect, and the economy did surge. economic growth went from 4.9% to north of 8%. year three, not so impressive. look at quarters, there were some drops. for perspective, today, the top marge call tax rate is 30%, not like are you at 70 or 90. can a r
. >> ronald reagan. >> now you're jack kennedy. >> ronald reagan. >> twitter was atwitter about that. that comment got a noticeable reaction from the group of undecided voters i watched during the debate last night. see it blown up there in the bottom of the screen. here is the problem, both kennedy and reagan working in a different time and place. to start, when both kennedy and reagan took office, individual tax rates not even in the ballpark of what we have now....
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Oct 10, 2012
10/12
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reagan some advice. it was consistent taxes, consistent regulatory, tell the same positive story over and over and over, and it will turn. and you've got to believe in it. so, you know, america usually will do the right thing after it's exhausted all the possibilities, i hope we do. the important part to me also is in washington, okay. if you think the washington and business can go to war with each other is going to be good, terrible error. collaborations which should've happened. every business i know wanted to help get things done, you know, and would've pulled together, worked around the clock. but it became a war. and now we're relit indicating parts of those wars. dodd/frank and health care. so we're going to relitigate it. it's another addition to the wet blanket and the benefit is get it right, get it right the first time and move on. but we didn't. >> let's transition to that. to the extent there has been a market absence in collaboration or significant friction between the worlds of politics an
reagan some advice. it was consistent taxes, consistent regulatory, tell the same positive story over and over and over, and it will turn. and you've got to believe in it. so, you know, america usually will do the right thing after it's exhausted all the possibilities, i hope we do. the important part to me also is in washington, okay. if you think the washington and business can go to war with each other is going to be good, terrible error. collaborations which should've happened. every...
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Oct 12, 2012
10/12
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. >> jack kennedy-- ronald reagan. >> oh, now you're jack kennedy. >> and he got it wrong. george w. bush lowered rates and when they did the treasury went up. and the other hot topic was libya. >> this benghazi issue would have been a tragedy in and of itself, unfortunately it's indicative of a broader problem. what we're watching on our tv screens is the unravelling of the obama foreign policy which is making the war more chaotic and us less safe. >> joe biden says the administration did not know about the request for more security in libya, but a day earlier the state department official in sworn statement said more security had been requested and denied. and when asked about it, president obama said, quote, i didn -- and after that, said i didn't catch that exchange. and the opening bell on wall street. here we go. >> stocks will open pretty flat this morning, a day after the debate. we've got one news item, a number from the government in the background here, it's the producer price index up. 1.1%, month over month and that's a big increase, however, if you take out fo
. >> jack kennedy-- ronald reagan. >> oh, now you're jack kennedy. >> and he got it wrong. george w. bush lowered rates and when they did the treasury went up. and the other hot topic was libya. >> this benghazi issue would have been a tragedy in and of itself, unfortunately it's indicative of a broader problem. what we're watching on our tv screens is the unravelling of the obama foreign policy which is making the war more chaotic and us less safe. >> joe biden...
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Oct 12, 2012
10/12
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ronald reagan, six years during his tax reform we went from $600 billion to $1 trillion worth of revenue. that's a 67% increase. even george bush's tax cuts, in 2003, federal revenue was a little under $1.8 trillion. before the housing vote, $2.5 trillion. that's a 42% increase in revenue to the federal government. lowering marginal tax rates is incentivizing. >> i hear you on that. what people are taking exception to is without details, as a taxpayer, of what's on the table and what's off the table, it's a very easy way to throw out numbers without necessarily being having to be responsible for the math working out. i mean i thought martha raddatz did a very good job on this. she's sort of like you're not again going to give specifics. and chris wallace -- >> you are giving specifics as you're giving directions to congress. this is what ceos do. listen, as you design this, make sure that people making $200,000 will not have their tax burden lowered. but we're going to lower their marginal tax rate because that produces inseverives for them to create jobs. for people making less than $20
ronald reagan, six years during his tax reform we went from $600 billion to $1 trillion worth of revenue. that's a 67% increase. even george bush's tax cuts, in 2003, federal revenue was a little under $1.8 trillion. before the housing vote, $2.5 trillion. that's a 42% increase in revenue to the federal government. lowering marginal tax rates is incentivizing. >> i hear you on that. what people are taking exception to is without details, as a taxpayer, of what's on the table and what's...
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Oct 12, 2012
10/12
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ronald reagan -- >> now you're jack kennedy. >> so was there a clear winner? 130,000 votes, and joe biden is leading with more than half. joining us for more, julian epstein and boris former aide to mccain/palin campaign in 2008. so boris, did paul ryan succeed here? has this been a game changing movement, has it picked up on the momentum that romney started with last week? >> it didn't need to be a game changing movement. what paul ryan needed to do was make his point to america that he is ready to be vice president and president if need be. and he absolutely did that. he was strong, he was resolute, and he stood up to very childish attacks from joe biden. some of the attacks were disappoint willing, the laughter, the smirking. it was very unvice presidential and unprofessional and at the end if you noticed when it was time to give their closing remarks, joe biden did not thank paul ryan, but paul ryan thanked joe biden. so on the overall picture, paul ryan did it great. does it help the momentum, it does. does it help democrats, it does not. democrats are st
ronald reagan -- >> now you're jack kennedy. >> so was there a clear winner? 130,000 votes, and joe biden is leading with more than half. joining us for more, julian epstein and boris former aide to mccain/palin campaign in 2008. so boris, did paul ryan succeed here? has this been a game changing movement, has it picked up on the momentum that romney started with last week? >> it didn't need to be a game changing movement. what paul ryan needed to do was make his point to...